Future of Sustainable Leadership 20.3.2018
Grab'n Go Summary
Deloitte organized a Grab’n Go breakfast event to discuss how to lead with sustainability. In the heart of the discussion were themes that will change how we do business: circular economy and digitalization.
Deloitte Finland’s Sustainability Services leader Riikka Poukka highlighted Deloitte’s key insights on circular economy innovation. While circularity itself is not a new idea, there are now new opportunities in solving global issues. Deloitte’s report Circular goes Digital looked at circular economy innovation in Finland. The results show that there is untapped potential; our innovation revolves around product performance, while global circular economy companies have a wider approach. Digitalisation can be a powerful enabler behind circular economy innovation, and helps in building the ecosystems vital for circular solutions.
Daniel Kaufmann, Circular Economy Specialist at Sitra, described Sitra’s view of the Current trends in Circular Economy. Circular economy companies are not defined by statistics or industries – they are the ones that fix the inefficiencies in our current interactions. Climate change, resource scarcity and changing consumer needs mean that corporations need agile means of making a difference. Most companies estimate that there will be a significant increase in the emphasis of circular economy and disruptive solutions in their strategies. For Finland to become a circular economy leader by 2025, it’s time to go from hype to concrete actions. Companies should consider what that means in their value chain: “how would you be part of the story?”
Mari Itkonen, Project Manager, Sustainability at Metsä Group, shared Metsä Group’s experience with future-proofing their business, and introduced Future scenarios as a tool in a sustainability materiality analysis project. Metsä Group wanted to take their materiality analysis to the next level; create something new with concrete benefits to business management. Four future scenarios were created, leveraging UN Sustainable Development Goals. The scenarios looked at global key trends and related significant uncertainties. Rather than discussing only sustainability issues, the results showed how the changes in the world would affect Metsä’s business. The results emphasised circular economy, partnerships and digitalization. Metsä’s business areas are already implementing the results in strategic planning, and the results form a basis for Metsä Group’s sustainability themes, target setting and reporting.
Laura Puustjärvi, Valmet’s Head of Sustainability gave an inspiring example of the use of Data analytics for sustainable supply chain management. For Valmet, the company’s supply chain is where sustainability has a true impact. Valmet has done solid groundwork on its supply chain management, and wanted to create a program to engage its most strategic suppliers. To ensure that resources would be used wisely, Valmet relied on data analytics to reveal differences in supplier weaknesses between geographical areas and highlight the biggest challenges. Based on the analytics, Valmet can now build a robust supplier sustainability program, with customised modules tackling specific challenges in each geographical area.